StoneX Launches Peso-Based Corn Swap to Serve Mexico’s Growing Risk Management Needs
Read the spanish version of this article here.
Key Takeaways
- StoneX now offers Mexico’s first peso-denominated corn swap and options contracts
- The contracts trade in metric tons and link directly to CME futures and USDMXN FX
- Juan Hinojosa explains how this new tool helps producers hedge more clearly and confidently
A New Way to Hedge Corn in Mexico
Juan Hinojosa, Senior Vice President at StoneX, has worked with Mexico’s corn producers for years. He’s seen how tough it can be to manage price risk, especially in dynamic and often volatile global trade policy environments. Hinojosa recently sat down with StoneX TV host Johanna Botta to discuss a new tool that could make a big difference for Mexico's producers – a first-of-its-kind corn swap contract priced in Mexican pesos.
Mexico imports about 25 million metric tons of corn every year. That’s a lot of exposure to global prices, usually quoted in U.S. dollars and measured in bushels. For many producers and buyers, that mismatch adds confusion and cost. This new contract removes one of the biggest barriers.
Why Trading in Pesos Changes the Game
Most corn risk tools are tied to CME futures, which are priced in U.S. dollars per bushel. But that doesn’t line up with how the Mexican market works. “The world works in metric tons,” Hinojosa said. “Mexico thinks in pesos.”
The new StoneX corn “compo” swaps and options fix that. They’re still linked to CME futures and U.S. dollar exchange rates, but prices, margin requirements, and option premiums are all quoted in pesos per metric ton. That means producers can hedge price risk without having to juggle currency conversions every day.
While the contracts can be tailored to various sizes, StoneX recommends a minimum of 25 metric tons for efficient execution. These contracts are offered through StoneX’s OTC platform and are available to clients who meet ECP qualification standards.
Built for Today’s Market – And Tomorrow’s
This isn’t just a one-off product. Hinojosa sees it as part of a bigger push to give clients tools that actually fit the way they do business. “We’ve got the strength and the scale to build what the market is asking for,” he said.
That could mean corn in pesos today and palm oil in Colombian pesos tomorrow. What matters is listening to producers and building contracts that make their lives easier.
With StoneX, clients get more than just a way to manage prices. They get support across the board – from physical delivery to logistics to risk strategy. In today’s market, that kind of partnership matters more than ever.
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–-– Written by Andy Catsimanes
–-– Expert: Juan Hinojosa, Senior Vice President – Risk Management
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